To your point, I agree. I've seen comparable (and sometimes higher) IQ from my RX100 than I do from various MFT and APS-C DSLR/MILC cams with their kit lenses including the Canon T3i and T4i, GX1, a few NEXes, and Nikon D3000-D3200. The RX100 fares well against those cameras at the wide end of the zoom range when it comes to low light performance and thin DOF as well. Of course, you could spend more and get better lenses for those cameras and beat the RX100 in low light.
I do hope that the new sensor in the 70D provides an actual improvement in ISO score if not IQ and isn't just the older sensor with OSPDAF added.